EX-12 3 a2212780zex-12.htm EX-12
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EXHIBIT 12


MGM RESORTS INTERNATIONAL

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(In thousands, except ratio data)

 
  Years Ended December 31,  
 
  2012   2011   2010   2009   2008  
 
  (In thousands)
 

Earnings:

                               

Income (loss) from continuing operations before income taxes and (income) loss from unconsolidated affiliates

  $ (1,597,155 ) $ 2,859,550   $ (2,025,366 ) $ (1,824,415 ) $ (709,740 )

Fixed charges (see below)

    1,117,327     1,086,865     1,113,580     1,028,673     795,049  

Distributed income from unconsolidated affiliates

    23,000     63,013     227,764     93,886     70,546  
                       

    (456,828 )   4,009,428     (684,022 )   (701,856 )   155,855  

Capitalized interest

    (969 )   (33 )   -     (253,242 )   (185,763 )
                       

    (457,797 )   4,009,395     (684,022 )   (955,098 )   (29,908 )
                       

Fixed charges:

                               

Interest expense, net (a)

  $ 1,116,358   $ 1,086,832   $ 1,113,580   $ 775,431   $ 609,286  

Capitalized interest

    969     33     -     253,242     185,763  
                       

    1,117,327     1,086,865     1,113,580     1,028,673     795,049  
                       

Ratio of earnings to fixed charges

    (b )   3.69x     (b )   (b )   (b )
                       

Deficiency

  $ 1,575,124   $ -   $ 1,797,602   $ 1,983,771   $ 824,957  
                       
(a)
Interest expense does not include the interest factor of rental expense as these amounts are not material.
(b)
Earnings were inadequate to cover fixed charges.



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MGM RESORTS INTERNATIONAL COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (In thousands, except ratio data)